Drchrono Secures $12 Million Series A

 

MOUNTAIN VIEW — drchrono Inc., a provider of Electronic Health Record (EHR) and healthcare API platform, has raised a $12 million dollar Series A round of funding.

Runa Capital led the round with other investors including Maxfield Capital, Eric Dunn (CEO of Quicken Inc. and Intuit’s first CTO), and FundersClub participating. The Series A round will fuel the company’s growth in larger healthcare organizations and revenue cycle management (RCM) business. The funding will enable the company to invest in platform innovation, talent acquisition, operation expansion to support their growth demand and also focus on advancing iOS apps as an Apple mobility partner.

“drchrono is at a pivotal stage in the company’s growth,” said Michael Nusimow, cofounder and CEO of drchrono.  “Our platform is crossing a continuum of care as we expand our customer base from solo practices to midsize and now larger health organizations with an all-in-one EHR, practice management and RCM solution.” Michael goes on to say, ”The support of our investors allows us to expand our successful platform to meet the needs of physicians and practices of all sizes, and across all specialties, and continue to innovate in mobile healthcare technology.”

With the ever changing electronic medical records market, doctors are relying on outdated, legacy EHRs that are rapidly falling behind. drchrono has long been an innovator in mobile healthcare applications across iPad and iPhone and most recently with Apple Watch.  Now, the company is expanding its EHR features, capabilities and RCM services for larger healthcare organizations as well as its industry leading API to allow other developers to build on top of the drchrono platform.  Hundreds of developers have integrated apps on the platform from startups like Eko Devices wearable digital stethoscope, to Health Gorilla, which allows practices to connect to any lab company. Larger companies like ZocDoc and DemandForce have also integrated with drchrono to create a better provider experience.

Over the last several years, drchrono has experienced massive growth and has over $12 million in annual recurring revenue.  The platform has over 8 million patients under the care of drchrono physicians. More than $3.5 billion in medical claims have been submitted through drchrono. Physicians are now leveraging different aspects of the platform including electronic health records, practice management, patient education, as well as medical billing and RCM services to manage and grow their practices.